Paris-based Sanofi has decided to drop ongoing Phase 3 clinical trials and marketing rights of Hanmi Pharmaceutical’s efpeglenatide, a diabetes drug.
Lim Sung-ki, founder and chairman of Hanmi Pharmaceutical, one of Korea’s top drugmakers, passed away on the early morning of Aug. 2 at the age of 80 from chronic illness.
Paris-based Sanofi is seeking an exit from a deal with Hanmi Pharmaceutical involving global marketing rights to efpeglenatide, a diabetes drug. Shares of Kospi-listed Hanmi fell almost 10 percent on the news.
Shares of Hanmi Pharmaceutical nosedived Tuesday to a low for the year after the company came under investigation for alleged insider trading and brokerages slashed target prices for the stock. The country’s top drug maker is suspected of delaying